Stock Alert: Denali Therapeutics Soars 35%

(RTTNews) - Shares of Denali Therapeutics Inc. (DNLI) are rising more than 35% after the company announced that its LRRK2 inhibitor, DNL151 has met requirements to proceed into further late-stage clinical studies.

The stock touched a new high of $35.70 this morning.

DNL151 has been selected to advance into two late-stage studies in Parkinson's disease in patients with a kinase activating mutation in LRRK2 and in patients with sporadic disease.

Denali and collaboration partner Biogen intend to commence patient enrollment in 2021.

Mutations in the LRRK2 gene can cause Parkinson's disease and are a major driver of lysosomal dysfunction, which contributes to neurodegeneration.